Gurgaon,With the coming up of massive IT corridor in IMT Manesar near Gurgaon by Vigneshwara Developers, the property values in the neighboring residential areas have doubled in last two years. Vigneshwara Developers has acquired 10 acres of area from the total space of 150 acres and is developing it into a state of the art technology park called Project iValley.

After creating a niche for itself in the office space and IT parks segment, Vigneshwara Developers Pvt. Ltd, is planning to foray into the housing for daily laborers and vendors. Affordable housing for the laborers working in the realty sector has become a necessity. There is no organised housing plan for the large number of migrant laborers coming to the city and adjoining areas, Sunil Dahiya, managing director, Vigneshwara Developers, said.

As there is no low- cost accommodation available for these migrant laborers, most of them end up staying in slums. The rise in number of poor laborers, year after year, makes a strong case for such homes. In the coming few years, NCR region will have about 4-5 lakhs of laborers working for the realty sector. So there is demand for the accommodation for these people and the demand will rise in the near future.

Vigneshwara developers are going to launch a pilot project in Sohna very soon. The project will be based on rented accommodation for the daily wage laborers with proper sanitation and water. And the monthly fee for the accommodation will be about Rs 500. And they will also provide the transportation facility for them to the main city.

The exemption of taxes on the low- cost housing schemes for urban poor under the Central or state government schemes will attract more developers into this segment. There will be great demand in this segment in the upcoming years.

Notes to Editor

About Vigneshwara

Vigneshwara group is one of the largest professionally managed realty groups of India. The group is a founder member of National Real Estate Development Council (NAREDCO) and the promoter member of Associated Chamber of Commerce and Industry of India (ASSOCHAM)